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tkd_fighter tkd_fighter
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A year ago
Why are goods that are non-rivalrous and excludable (such as an uncrowded library or art gallery) often provided by the government?

▸ The marginal private benefit to the last user is greater than the marginal private cost.

▸ The marginal cost to society of providing access to one more user is zero, so it is allocatively efficient to provide this good at a price of zero.

▸ Because when these goods are used beyond capacity, they would not be provided by private firms.

▸ The marginal benefit to society of providing access to one more user is zero, so it is allocatively efficient to provide this good at a price of zero.

▸ Because the government can provide these goods with fewer resources, it is productively efficient.
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Microeconomics

Microeconomics


Edition: 17th
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angelofavariceangelofavarice
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A year ago
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tkd_fighter Author
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A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Roselalo
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This site is awesome
TheMoffattMan
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2 hours ago
Good timing, thanks!
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